The number of American houses worth $1 million is at an all-time high, as home prices continue to hit new records.
While million-dollar homes are out of reach for the vast majority of Americans, they are no longer just being bought and sold by the ultra-wealthy. In San Francisco, the median-priced home sells for more than $1.6 million – far above the national median of $441,000. Meanwhile, in Detroit, $1 million listings are rare.
Today, there are only seven major metros where a luxury home — valued in the top 5% of homes — costs less than $1 million, compared to 30 just five years ago.
"The $1 million mark used to signal true luxury; now, in many parts of the country, it simply means the price of a typical home," said Jonathan Huffer, a Redfin Premier agent specializing in luxury properties in Palm Beach, Florida. "It's a reflection of how dramatically home prices have risen, especially in coastal markets where million-dollar listings have become the norm rather than the exception."
So, are you wondering what $1 million buys in today's market? Redfin Real Estate pulled from its listings to see how far it goes in Toledo. Listings between $500,000 and $1,000,000 were included.
4 Corey Creek Rd, Toledo
- Price: $849,900
- 4 bedrooms, 4.5 bathrooms
- Square feet: 3,755
- Price per square foot: $226
- See 4 Corey Creek Rd, Toledo on Redfin.com
4354 Corey Rd, Toledo
- Price: $779,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 5,277
- Price per square foot: $147
- See 4354 Corey Rd, Toledo on Redfin.com
3835 River Rd, Toledo
- Price: $673,000
- 3 bedrooms, 3 bathrooms
- Square feet: 4,000
- Price per square foot: $168
- See 3835 River Rd, Toledo on Redfin.com
2637 Heysler Rd, Toledo
- Price: $625,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,116
- Price per square foot: $200
- See 2637 Heysler Rd, Toledo on Redfin.com
2132 Burroughs Dr, Toledo
- Price: $595,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 5,190
- Price per square foot: $114
- See 2132 Burroughs Dr, Toledo on Redfin.com
710 High Pines Dr, Toledo
- Price: $569,900
- 4 bedrooms, 4.5 bathrooms
- Square feet: 3,714
- Price per square foot: $153
- See 710 High Pines Dr, Toledo on Redfin.com
4612 Farmington Rd, Toledo
- Price: $550,000
- 5 bedrooms, 4 bathrooms
- Square feet: 3,669
- Price per square foot: $149
- See 4612 Farmington Rd, Toledo on Redfin.com
$1 million dollar homes in major cities around the country
215 W Illinois St Unit 2B-2C, Chicago
- Price: $1,000,000
- 3 bedrooms, 3 bathrooms
- Square feet: 4,396
- Price per square foot: $227
- See 215 W Illinois St Unit 2B-2C, Chicago on Redfin.com
5435 Preston Fairways Cir, Dallas
- Price: $1,000,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 4,392
- Price per square foot: $227
- See 5435 Preston Fairways Cir, Dallas on Redfin.com
2956 W Avenue 35, Los Angeles
- Price: $1,000,000
- 4 bedrooms, 2 bathrooms
- Square feet: 1,662
- Price per square foot: $601
- See 2956 W Avenue 35, Los Angeles on Redfin.com
6049 SW 165th Ave, Miami
- Price: $1,000,000
- 5 bedrooms, 4 bathrooms
- Square feet: 3,153
- Price per square foot: $317
- See 6049 SW 165th Ave, Miami on Redfin.com
206 E 95th St Unit 12B, New York City
- Price: $1,000,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,001
- Price per square foot: $999
- See 206 E 95th St Unit 12B, New York City on Redfin.com
3070 61st Ave SW, Seattle
- Price: $1,000,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,670
- Price per square foot: $598
- See 3070 61st Ave SW, Seattle on Redfin.com
This story was produced by Redfin Real Estate and reviewed and distributed by Stacker.
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